Australian Company Directors are now required by law to verify their identity with the Australian Business Registry Service (ABRS) and obtain a Director ID.
What is a Director ID?
A unique 15 digit number given to an existing, new or intending director who has verified their identity with the Registrar;
A Director ID is issued to a person forever, much like a tax file number;
A director will keep the same Director ID even if they stop being a director, becomes a director of another company or multiple companies, changes name, moves interstate or moves overseas;
All existing and first-time directors and alternate directors will need to verify their identity and apply for the unique identifier via the ABRS website.
Why is it being introduced?
To increase traceability and transparency of the relationships between directors and their companies;
Prevent the appointment of fictitious directors or inaccurate directors’ names;
Tighten the company registration process and help avoid the appointment of directors to companies without their knowledge or consent;
Create one source of truth when it comes to the director’s identity and personal details
How to get a Director ID
To obtain a Director ID you will need to complete the identification requirements through myGovID.
Unfortunately, MJM Accountants cannot apply for the Director ID on your behalf however please reach out if you have any queries, issues or problems registering your ID.
MyGovID is an application designed to allow users to authenticate with the Australian Government websites and services and was developed by the Australian Tax Office (ATO) and the Digital Transformation Agency (DTA).
The identification process requires you to verify your identity using a combination of identification documents and existing ATO-held information.
Further information is here.
Once you have completed your Director ID process, and you have been issued with a Director ID, please let us know.
As always, our team is here to help.